Billionaire Tran Dinh Long: HRC sells as much as it produces, manufacturing rail steel to showcase Hoa Phat’s strength and influence

At the annual shareholders’ meeting of Hoa Phat Group (HPG) in 2025, Chairman Tran Dinh Long announced that the HRC blast furnace at Dung Quat 2 would operate in September, aiming to produce 15 million tons of liquid steel by 2026. Hoa Phat commits to supplying steel for major projects, including railways, with a total required steel volume of 10 million tons. Mr. Long emphasized that Hoa Phat will continue to sign contracts with various partners and affirmed the important role of private enterprises. The high-quality steel manufacturing plant at Dung Quat 2 will cost 14 trillion VND. Hoa Phat exports steel to 40 countries and aims to maintain an export proportion below 20%. In Q1 2025, the business achieved 37 trillion VND in revenue and 3.3 trillion VND in profit, marking increases of 19% and 15% compared to the previous year, respectively. Mr. Long expressed confidence in reaching a revenue target of 170 trillion VND in 2025.